Zanzibar
Telecom (Zantel) started its operations in Zanzibar in 1999 as a
subsidiary of Emirates Telecommunications Corporation (Etisalat) and
extended its footprint to the Mainland of Tanzania in 2005.
Zantel
is a joint venture between Etisalat and Government of Zanzibar with
current shareholdings of 85% and 15%, respectively. On 4th June 2015, Etisalat has agreed to sell its stake in Zantel to Millicom International.
The
Government of Zanzibar and Etisalat have both been active participants
during the sale process. The key objective of the sale process has been
to secure a long-term future for Zantel, its employees and the brand.
The
sale is subject to regulatory approval by the Tanzanian Communication
Regulatory Authority and the Fair Competition Commission. After the sale
closes, Millicom International will have an 85% shareholding in Zantel
and the Government of Zanzibar will remain with 15%.
As
the transaction is only a change in one of Zantel’s shareholders, it
will not affect Zantel customers. Zantel services will continue as
normal and Zantel will honour its commitment to its other stakeholders.
